PETROLEUM FORTUNE.

Temuka Leader, Issue 1059, 25 January 1883, Page 3

PETROLEUM FORTUNE.

The following interesting story of how fortunes are lost and won is told by an American paper. It appears that when the petroleum excitement became rampart, a citizen of Pittsburg went to Titusville without any money, and afte r a few weeks fell in with a prospering speculator and ‘ struck oil,’ making 400,000d01s to 500,k)00clols a year. He increased this sura to 1,500,000d015, and was urged by his friends to retire from the oil region with the wages of his luck. This he refused to do, and before another twelve-month be had lost it all but a few thousand dollars. Then he returned to Pittsburg and went to work in a legitimate way. But the fever ofspeculation attacked him once more, and he betook himself a second time to Oil Creek. After various shifts and adventures, fortune re-visited him, and he was able to count his million. Trying to double this —be had fixed bis fortune at 2,000,000d01s —he was again financially wrecked. This time he was so poor that ha stayed among the wells and was forced to earn a livelihood as a day laborer. New opportunities opened to him, and a third time be got very rich. Reckless speculation once more brought him low, and he left for California, hoping to improve his prospects there. The fascination of the petroleum drew him back. He made a fourth fortune and lost it ; and finally a fifth, with tho same result. Within a few months the fickle goddess lias smiled for a sixth time, and he has invested all his money in Government bonds —well nigh 1,700,000d0ls —and foresworn speculation. He sold all his oil before the recent tumult of prices, and says he has learned wisdom by experience.